NZDUSD - Upward trend will continue, Long trade by market price recommended

December 9, 2019 7:39:21 AM by Patrick Yang
Forecast Details
PairNZDUSD
Direction Buy
StatusClosed (0.6595)
Start
End
Dec. 9, 2019
Dec. 16, 2019

+140 p
0.6700
Target 1
0.6560
Entry
-120 p
0.6440
Stop Loss
Chart & Analyst Comments
NZDUSD - Upward trend will continue, Long trade by market price recommended

For today's forecast, we recommend a Buy Order at this recommended market price - 0.656. This idea is based on the following analysis:

  1. According to the most brokers’ data, more than half of the traders are currently in short positions on NZDUSD. As a result, we recommend considering only Long trades at this time.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.